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Funeral provider Dignity swings to loss despite 14% rise in UK deaths
Wed, 17th Mar 2021 09:07
(Alliance News) - Funeral services provider Dignity PLC on Wednesday reported a fall to loss in 2020, despite a 14% increase in deaths in the UK due to Covid-19.
The Sutton Coldfield, West Midlands-based company swung to a GBP19.6 million loss in the financial year that ended December 25 from a GBP44.1 million profit in the financial year that ended December 27, 2019. Dignity said underlying pretax profit declined by 19% to GBP30.7 million in 2020 from GBP37.7 million.
There was a 14% increase in deaths in the UK last year to 663,000 from 584,000 in 2019, according to Dignity, due to the virus pandemic. But revenue rose by just 5% to GBP357.5 million from GBP338.9 million.
IN BRIEF: Dignity s largest shareholder seeks to oust executive chair
Thu, 11th Mar 2021 09:36
Dignity PLC - West Midlands-based funeral services provider - Largest shareholder, Phoenix UK Fund, requisitions a general meeting. Phoenix, which owns 29.9% of Dignity, wants to remove Executive Chair Clive Whiley and appoint Gary Channon as an executive director, Dignity says. Channon is the founder and chief investment officer of Phoenix Asset Management Partners, which manages Phoenix UK Fund. Dignity says it will respond to the requisition and asks shareholders to give no commitments to Phoenix regarding its resolutions.
Dignity back in December appointed Dean Moore as interim chief financial officer, after Steve Whittern resigned as finance director. The company said at the time it has not lost sight of the need to drive the ongoing root and branch review through to an economic conclusion.